Tuesday, 25 September 2012

Applications to the Competitive Start Fund will open on Wednesday 26th

Silicon Ireland is pleased to see the Enterprise Ireland scheme is back open for applications.




Applications open tomorrow.




The next call for applications to the Competitive Start Fund will open on Wednesday 26th September, 2012, and will close on Wednesday 10thOctober 2012 at 3pm. Late applications will not be accepted.

This fund is open to applications from early stage companies, who meet the eligibility criteria outlined below, from the following sectors: Internet, Games, Mobile, Apps, SaaS, Cloud Computing, Enterprise Software, Lifesciences, Cleantech and Industrial Products.


Overview of the Competitive Start Fund

The purpose of the Competitive Start Fund is to accelerate the growth of start-up companies that have the capability to succeed in global markets. The fund is designed to enable those companies reach key commercial and technical milestones, for example:
Evaluate overseas market opportunities and reach firm conclusions regarding the viability of the proposed business.
Build a prototype.
Secure a reference site.
Develop a market entry plan for exploiting international opportunities.
Secure partnership deal or strategic alliance.
Identify suitable channels to international markets.
Secure third party investment e.g. business angel, Venture Capital.


Am I eligible?

You are eligible to apply if you are an existing or potential client of Enterprise Ireland’s High Potential Start-Up Department.

The Competitive Start Fund is open to:
Companies who are active in the ICT & Industrial sectors to include the following sub-sectors: Internet, Games, Mobile, Apps, SaaS, Cloud Computing, Enterprise Software, Lifesciences, Cleantech and Industrial Products.
Individuals who, prior to Enterprise Ireland’s investment, will register a company which will be active in these sectors.

In addition, applicants must fulfil all of the following criteria:
Must be a manufacturing or an internationally traded services business.
Must not have received equity funding of €100K or more prior to the competition closing date.
Must be pre-trading or recently commenced trading, i.e. does not have annual revenues in excess of €60k in any previous financial year.
Must be less than six years old.
Must be capable of creating 10 jobs in Ireland and realising sales of €1m within 3 years of starting up or, where a company is required to have FDA or CE approval, within three years of approval to sell.
Must not be involved in activities that fall within gambling or "gaming" as defined in the Gaming & Lotteries Act 1956.

Please note applicants must be eligible to live and work in Ireland.

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